Technical: Soya Bean Indore - Bias Is To Test Lower Levels

Dated 29/05/2017

SOYA BEAN INDORE – last close-2787.50: Bias is to test lower levels

Monthly chart

Direction movement not being witnessed and movement is within the band.

Support cluster on the monthly chart is at 2600-2500 to be under pressure.

The support cluster of 2600-2500 is created since the year 2012.

Sideways volatility is likely to be witnessed.

Immediate band is 3100-2700.

The bias for near term is to test the lower levels.

Conclusion

Sideways volatility in a band being witnessed.